D-Wave Quantum (Ondo Tokenized Stock) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 232.1× the size of D-Wave Quantum (Ondo Tokenized Stock) (QBTSON) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.43 across 38 shared trading days). QBTSON has been the more volatile of the two, at 553% annualised against CRCLON's 98%.

Correlation: -0.43
Size ratio: 1 : 232.1

D-Wave Quantum (Ondo Tokenized Stock)QBTSON

$10.1200

24h: -1.13%
Market cap: $387,250
Volume 24h: $795,817
Volatility (ann.): 553%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.3500

24h: +1.02%
Market cap: $89.88M
Volume 24h: $1.40M
Volatility (ann.): 98%

QBTSON 0.4%Share of the two combined market caps99.6% CRCLON

Performance

QBTSONCRCLON

7 days-41.40%-6.27%CRCLON
30 days-38.62%-16.67%CRCLON
90 days-54.78%——

Correlation

-0.43over 38 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.4690d: insufficient data1y: insufficient data

Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.

Risk & extremes

Metric	QBTSON	CRCLON
Max drawdown (400d)	-80.5%	-30.7%
Risk-adjusted return (90d)	-0.08	0.06

Relative strength over 90 days: CRCLON outperformed QBTSON by 50.3% — measured on the QBTSON/CRCLON ratio, so it holds regardless of market direction.

D-Wave Quantum (Ondo Tokenized Stock) →Circle Internet Group (Ondo Tokenized Stock) →